The report suggests that the Philippines needs to exert extra effort to improve business dynamism.

Time to start a business (ranked 115th ), cost of starting a business (97th), and insolvency recovery rates (112th) remain as weak indicators and are still seen as disruptive factors for doing business, MBC said.

“While time and cost of starting a business remain as problematic factors for the business community, it is worthy to note that the Philippines ranks high in e-participation, or the use of online platforms to link government information to citizens,” said MBC chair Edgar Chua.

“With the recently passed Ease of Doing Business Act, we remain optimistic that the government will be able to sustain these gains and address the concerns of efficiency in doing business,” he added. —ROY STEPHEN C. CANIVEL